On the other hand, a continued drop below about 2900 could trigger some panic and result in a larger decline. It is also worth remembering that, at least at the moment, the bull market is mainly focused on a relatively small contingent of large-cap stocks. Small caps, and most stocks listed in the US, aren't in new-high territory.
At the moment, still trading the uptrend and focusing on strong stocks at or new highs.
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